Scotia Cuts Gildan Activewear (NYSE:GIL) Price Target to $65.00

Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective dropped by Scotia from $72.00 to $65.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the textile maker’s stock. Scotia’s target price would suggest a potential upside of 19.83% from the stock’s current price.

Several other research firms also recently weighed in on GIL. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $77.00 target price on shares of Gildan Activewear in a research note on Friday, May 1st. UBS Group reaffirmed a “buy” rating on shares of Gildan Activewear in a research note on Wednesday, June 3rd. Scotiabank reaffirmed a “sector outperform” rating and set a $65.00 price objective (down from $72.00) on shares of Gildan Activewear in a research note on Wednesday. TD Securities reaffirmed a “buy” rating on shares of Gildan Activewear in a research note on Tuesday. Finally, Weiss Ratings cut shares of Gildan Activewear from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.21.

Gildan Activewear Stock Performance

Shares of GIL traded up $3.90 during trading hours on Wednesday, hitting $54.24. The company’s stock had a trading volume of 3,844,611 shares, compared to its average volume of 1,383,696. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 31.88 and a beta of 1.08. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.35 and a quick ratio of 1.17. The business has a 50 day simple moving average of $58.28 and a two-hundred day simple moving average of $61.53. Gildan Activewear has a 52-week low of $46.00 and a 52-week high of $73.69.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, April 30th. The textile maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Gildan Activewear had a net margin of 6.10% and a return on equity of 21.38%. The company’s revenue was up 63.8% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. Gildan Activewear has set its FY 2026 guidance at 4.200-4.400 EPS. On average, equities analysts expect that Gildan Activewear will post 4.25 earnings per share for the current fiscal year.

Institutional Trading of Gildan Activewear

Several institutional investors have recently bought and sold shares of GIL. Webster Bank N. A. purchased a new stake in Gildan Activewear during the 4th quarter valued at about $25,000. Islay Capital Management LLC purchased a new stake in Gildan Activewear during the 4th quarter valued at about $25,000. Larson Financial Group LLC grew its position in Gildan Activewear by 3,516.7% during the 4th quarter. Larson Financial Group LLC now owns 434 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 422 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Gildan Activewear by 161.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 555 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Gildan Activewear by 14,833.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 448 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 445 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

More Gildan Activewear News

Here are the key news stories impacting Gildan Activewear this week:

• Negative Sentiment: A short-seller report from Jehoshaphat Research alleged inflated sales and other potential issues, triggering the sharp selloff in Gildan shares and driving the day’s weak sentiment. Gildan Stock Slides As Short Seller Alleges Inflated Sales
• Negative Sentiment: Gildan issued a statement saying it is confident its disclosures are accurate and comprehensive, but the response has not yet calmed investor concerns. Gildan Activewear Issues Statement Regarding Recent Short Seller Report
• Negative Sentiment: Several law firms, including Rosen Law Firm, Block & Leviton, Johnson Fistel, BFA Law, Ademi LLP, and Frank R. Cruz, announced investigations into potential securities fraud and shareholder losses, adding legal overhang and uncertainty. Rosen Law Firm Encourages Gildan Activewear Inc. Investors to Inquire About Securities Class Action Investigation – GIL

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.